DOW JONES, Forming H&S Pattern Under Resistance. $26,600 TargetThe DOW hit both my overhead targets and retraced on time. I was hesitant to suggest a short but I think we have a very clear picture quite soon. We have a head and shoulders pattern forming under poor RSI and resistance. I think this could bring us to $26,600 +/- as a measured move. This is not trading advice.
Downjones
#US30 #DJI Possible Short Opportunity For Day TradeTraders, we have this pattern completing ion the zone which can give us a Possible Short Opportunity For Day Trade
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#US30 #DowJones Has Completed A Bearish Pattern But ...Traders, US30 has completed a bearish pattern very like SNP500 too. It also has crossed 200sma which can show some reaction. But it can go a bit higher to the higher zone before falling. So watch this index along with snp500.
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Disclaimer:
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#US30 #DJI Weekly Top Down AnalysisTraders, US30 has come to our potential reversal zone. Now we are watching this market for short opportunities. Here is my weekly full top down analysis.
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Disclaimer:
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions.
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Every Time Bitcoin Flashed This Signal Since 2015, a Boom FollowBitcoin has been on an impressive run over the past few weeks, mounting past resistance after resistance despite a harrowing macroeconomic backdrop. Since the March lows of $3,700, BTC is up 150%, a stellar performance that puts almost any other $100 billion+ asset to shame.
Although impressive, Bitcoin continuing to set new local highs and holding above key support levels has allowed the cryptocurrency to print a confluence of extremely positive technical signs.This trend continued on May 1st when Nunya Bizniz, a Bitcoin chartist and analyst, observed that the signal that preceded some of Bitcoin’s most important rallies over the past few years has just been spotted again. Because Bitcoin’s value is largely derived from its network effect which suggests that the value of a good or service is directly related to the number of consumers, often on an exponential scale BTC has long traded in a parabolic fashion.
Just look to the asset’s chart, which is filled to the brim with parabolic rallies and parabolic crashes, much unlike the slow-and-steady price action most often seen with traditional asset classes like stocks and bonds.This has made the Parabolic Stop-and-Run Reversal Indicator (PSAR) a natural fit for analyzing Bitcoin, according to a recent observation by Nunya Bizniz. Referencing the chart seen above, he explained that in the wake of the six times this indicator has appeared in the past five years, Bitcoin saw “substantial upside.”
Such was the case at the start of 2019, when just prior to the 25% breakout on April 1st, the PSAR flipped bullish , marking the start of an over 300% rally. Similarly, the PSAR flipped bullish multiple times in the 2,000% 2017 rally to mark local highs and bullish continuations.
History repeating will see Bitcoin strongly break to the upside yet again in the coming weeks. Accentuating how strong this sign could be, Bizniz rhetorically asked: “Can this be interpreted any other way than bullish?” Yet the PSAR flipping bullish is only one sign of many indicating that Bitcoin may soon benefit from a longer-term bull trend.
For one, Bitcoin’s strong rebound in April saw the cryptocurrency close its monthly candle above a key level of the Ichimoku Cloud on the one-month chart.
This is relevant for BTC because the last time Bitcoin claimed this technical level was in early 2016, when the cryptocurrency was trading around $500 and prior to the 4,000% rally that brought the cryptocurrency to $20,000 just 20 months later.
Adding to this, one trader noted that the leading crypto recently broke above a rising wedge formed from March’s lows until now. This is the exact same pattern hat marked the start of 2019’s bull run, which brought prices from the $4,000s to $14,000 in three months’ time.
The DOWn JONES On Schedule For May 6th-8th Reversal?Of course we can reverse sooner, as I predicted previously, but this is what makes the most sense today and falls in line with some old charts...
Let us assume that the money printing is the rising tide. If the market goes up on average this week and or at least follows the rules for a TD9 printing, we will have a potential reversal on that indicator (not a big deal). Normally, I wouldn't be looking for this speculative of a play. But if we get to the $25,200-$27,100 zone, this hits my targets on previous charts and has strong confluence with the FIB Zones. I then decided to ask the question what type of PLANNED news events around May 6th-8th that would cause this reversal within the fundamental narrative.
NEWS TO EXPECT
May 8th
*Non-Farm Payroll
*Unemployment Report
*Average Hourly Earnings
*Wholesale Inventories
Please do your own due diligence and remember this is NOT trading advice.
US30 Bearish Structure Hello Everyone !
Here we have US30 on a Bearish Structure, in 4H Timeframe we see US30 has completed the correction, what we can notice here that 5 Elliot Impulse waves have come to an End by which we can easily Notice US30 seems to be failing to create a HH ( Higher High ), by which means we have the ABC pattern being set up, also we can notice there is a break on the 4H Trend and also complex HS Pattern giving us the confidence for some Short Possibilities. We will be waiting for a Engulfing Bearish Candle for our Validation.
Please be aware we are dealing with a MID-TERM / LONG-TERM Trade setup
Confirmations :
1. Elliot Impulse Waves ✓
2. Break on the 4H Trendline ✓
3. Complex HS Pattern ?
4. Lower High, instead of Higher Highs ?
Please feel free to share your Opinion on the Comments Below.
Thank you !
Stay Home & Trade Safe
USD/JPY Buy Opportunity!!!Hi traders here’s my analysis on this pair. As you can see on the chart we started the week of a key level of broken resistance from the past looking to turn in support at the (108.10). Any pullback in this area is going to be seen as a opportunity to start looking for bullish setups in this market. And if we get the right bullish setup in this market we’re going to be looking at going long up towards the next key area of resistance at the (111.03)
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GBP/USD Short Opportunity!!!!Hi traders the next market we’ll be looking at is the pound/dollar.Okay so we started the week under key level of broken support turning into resistance (1.31090) level. Any pullback in this area is going to be treated as a opportunity to start and looking for bearish patterns and setups. And we are going to be looking at shorting the market down to next key level of support (1.2807) if we get a break through here we’ll be looking at the next key level of support to the downside target two at the (1.2707)
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